Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,082,222 shares, a decline of 36.0% from the June 15th total of 1,691,283 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily volume of 3,200,313 shares, the short-interest ratio is currently 0.3 days.

Momentus Stock Performance

Shares of Momentus stock opened at $4.96 on Friday. Momentus has a 52-week low of $3.11 and a 52-week high of $43.55. The stock has a market capitalization of $93.43 million, a price-to-earnings ratio of -0.11 and a beta of 2.26. The company’s 50 day moving average price is $9.16 and its 200-day moving average price is $6.97.

Momentus (NASDAQ:MNTS) last issued its earnings results on Wednesday, May 13th. The company reported ($2.15) EPS for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.The firm had revenue of $3.21 million during the quarter.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its stake in Momentus stock. Armistice Capital LLC grew its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the period. Armistice Capital LLC owned about 12.62% of Momentus worth $966,000 as of its most recent SEC filing. 9.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MNTS has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research note on Tuesday, April 21st. Wall Street Zen lowered Momentus from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Momentus Company Profile

Momentus Inc is a space logistics and in-space transportation company that develops and operates orbital transfer vehicles (OTVs) to move satellites and other payloads between orbits. Its core offering, the Vigoride platform, uses a proprietary water plasma propulsion system to provide sustainable, high-efficiency thrust for a range of orbital maneuvers. The company’s solutions are designed to enable flexible deployment and repositioning of satellites after launch, assisting satellite operators in optimizing mission lifespans and orbital slots.

Founded in 2017 and headquartered in Santa Clara, California, Momentus has pursued a path of technology demonstration and commercialization.